Sports betting is a popular form of gambling, and it’s also regulated by a number of agencies. Illinois, Arizona, and Colorado are among the states that have legalized sports betting. There is no clear-cut answer for how this will affect sports betting in their states, but here are some possible scenarios. In addition, many people are concerned about the safety of sports betting, which is why the regulatory bodies involved in the process are carefully scrutinizing its legality.
Legalized sports betting in Illinois
A new law has made legalized sports betting in Illinois a reality. The state’s Gaming Board published new rules for the law just last week, but no date has been set for it to go into effect. While other states rolled out sports betting within a few months of the Supreme Court’s approval of the industry, Illinois was late to the party. A former NHL player and coach, Olczyk placed the first sports wager on March 9, 2020, on a paused hockey game. A year later, Olczyk won a $10 million prize.
The new law also permits online and mobile sports betting. Already, the state is home to six sportsbooks. With more to come, the state will have more competition. The state is currently home to PointsBet Sportsbook and Hawthorne Racetrack, which will rebrand itself as FanDuel Sportsbook & Horse Racing in late 2020. Meanwhile, sports arenas that have a license can also offer mobile betting in a five-block radius.
Legalized sports betting in Arizona
In a move that would legalize sports betting in Arizona, Governor Ducey signed a bill to do just that. Specifically, the legislation allows sports bettors to bet on the outcomes of major sporting events. The bill, SB 1525, would have legalized sports betting in Arizona for 10 professional sports teams and 10 tribal organizations. It also allows sports-betting license holders to contract with major online wagering companies. While most observers expected Arizona to legalize sports betting after passing PASPA, the tribes have been opposed to the idea.
When betting on sports in Arizona, be sure to use the best banking options possible. The state of Arizona has approved a variety of banking options, including online bank transfers, PayPal, and prepaid Play+ cards. The state of Arizona has carefully tested these methods and recommends that bettors use them. Arizona’s sportsbook operators will offer the best banking options for residents of the state. For example, if you are in the state, you can use a PayNearMe card to pay at a convenience store.
Legalized sports betting in Colorado
Sportsbooks will open in Colorado in May 2020. Several nationally known sports betting brands will launch in Colorado on this date. Among these companies are DraftKings, FanDuel, BetMGM, and BetRivers. Later in the month, FOX Bet entered the market. The SBK sportsbook will also open in Colorado. Bet365 is also on the way to launch in the state. In the interim, Draftkings has opened a temporary sportsbook at the Mardi Gras Casino in Black Hawk.
Though Colorado is a relatively small state in terms of casino size, Colorado casinos are booming businesses. In the first year after the amendment became law, casinos registered more than $3 billion in sports bets. Many state sportsbooks encourage bettors to place small bets on pro sports teams. However, bettors must treat home team bets as any other bet. To play at these casinos, players must set aside bias and treat them like other bets.